美国私人股本集团百仕通(Blackstone)与香港最大房地产开发商之一达成协议，拟在中国内地建造豪华公寓，由此作出了对中国繁荣的住宅市场的首笔重大投资。
百仕通已同意为鹰君集团(Great Eagle)在辽宁大连的住宅开发项目提供资金支持，在这座海滨城市建造1000多套新公寓。计划还包括分期建造逾400间酒店客房。
享有“北方香港”美誉的大连是中国重要的贸易和金融中心。目前，中国房价空前高涨，有分析师担心，最近房价的创纪录上涨可能会催生一个由贷款推动的不可持续的资产泡沫。
国际房地产咨询公司戴德梁行(DTZ)的研究显示，从长远来看，中国内地的住宅价格仍相对合理，并预计，房价还会出现一定上涨。不过，中国政府出台了打击投机性房地产开发和投资的政策，尽管整个市场仍未受到抑制。在市场评论人士看来，此次交易符合百仕通重点投资新兴市场的战略——过去一年，该集团对中印两国尤其有兴趣。百仕通拒绝置评，而记者无法联系上鹰君请其作答。
已投资过多家中国企业的百仕通曾表示，中国经济的快速增长和较低的估价意味着有望实现高回报，而工资水平的上涨和城市化进程则支撑了投资价值。
过去10年，中国房价涨幅超过了通胀，尤其是在一线城市。在这些城市，近年房价上涨是由投资者需求拉动的。
香港房地产市场尤其繁荣。房地产服务商第一太平戴维斯(Savills)亚洲研究主管西蒙•史密斯(Simon Smith)表示，最近，香港高端市场山顶区的住宅均价飙升，超过1997年高点78%。“2010年5月，山顶区房价创下了60215港元每平方英尺的历史最高水平，”他表示。
鹰君在最新发布的业绩报告中表示，将邀请投资者以成立合资公司的方式加盟大连项目。该项目可开发的建筑毛面积为300万平方英尺，将于今年年内启动。
译者/陈云飞
http://www.ftchinese.com/story/001034229
Blackstone, the US private equity group, has made its first significant investment in the booming Chinese housing market after agreeing a deal with one of Hong Kong’s largest property developers to build luxury apartments in the country.
Blackstone has agreed to back the development by Great Eagle of more than 1,000 new homes in Dalian in Liaoning, a coastal city and port in northern China. The scheme is also set to include more than 400 hotel rooms, and is expected to be built in several stages.
Nicknamed the “Hong Kong of northern China”, Dalian is an important trading and financial centre. The investment comes during an unprecedented boom in housing prices in China, with analysts fearing that recent record gains could fuel an unsustainable and debt-fuelled asset bubble.
Research from DTZ, the property consultancy, suggests that housing in mainland China remains affordable in the long term, and it forecasts moderate house price growth. There has, however, been a tightening of policy on speculative property development and investment, although the market has yet to be checked. The deal is seen by market commentators as being in line with Blackstone’s strategy of focusing on investments in developing nations, with a particular interest in the past year in China and India. Blackstone declined to comment and Great Eagle was not available to answer questions.
Blackstone, which has already made a number of investments in Chinese companies, has said in the past that China’s rapid economic growth and low valuations promised good returns, with wage growth and urbanisation to underpin values.
Chinese house price growth has exceeded inflation over the past decade, in particular in first-tier cities where recent price growth has been driven by demand from investors.
The Hong Kong market is es-pecially buoyant. Simon Smith, director of Savills, the estate agency, said average town-house prices in Hong Kong’s upmarket Peak district had recently surged more than 78 per cent above a 1997 high. “An historical high of HK$60,215 per sq ft was paid for a house ... on the Peak in May 2010,” he said.
Great Eagle said in its last set of results that it would invite joint venture investors to participate in the Dalian project, which has a gross developable floor area of 3m sq ft, with development to start this year.
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